Intuitive Surgical (NASDAQ:ISRG) Price Target Raised to $640.00

Intuitive Surgical (NASDAQ:ISRG) had its price target hoisted by equities research analysts at Truist Financial from $570.00 to $640.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Truist Financial’s price objective suggests a potential upside of 22.16% from the stock’s previous close.

Several other brokerages have also commented on ISRG. Robert W. Baird raised their price objective on Intuitive Surgical from $503.00 to $565.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Piper Sandler reissued an “overweight” rating and issued a $538.00 price target (up previously from $495.00) on shares of Intuitive Surgical in a research note on Friday, October 18th. BTIG Research upped their price objective on shares of Intuitive Surgical from $535.00 to $561.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley upgraded shares of Intuitive Surgical from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $522.00 to $650.00 in a research report on Monday, December 2nd. Finally, Mizuho upped their price target on shares of Intuitive Surgical from $440.00 to $500.00 in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $554.17.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $523.91 on Wednesday. The firm’s 50 day simple moving average is $526.05 and its 200-day simple moving average is $482.16. Intuitive Surgical has a 12 month low of $320.26 and a 12 month high of $556.23. The stock has a market capitalization of $186.61 billion, a price-to-earnings ratio of 84.23, a PEG ratio of 5.35 and a beta of 1.38.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings data on Thursday, October 17th. The medical equipment provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.32. Intuitive Surgical had a net margin of 28.51% and a return on equity of 13.41%. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Analysts anticipate that Intuitive Surgical will post 5.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Robert Desantis sold 188 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $506.52, for a total value of $95,225.76. Following the transaction, the executive vice president now directly owns 5,506 shares in the company, valued at approximately $2,788,899.12. This represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Brian Edward Miller sold 2,553 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $515.00, for a total value of $1,314,795.00. Following the sale, the executive vice president now directly owns 7,066 shares of the company’s stock, valued at approximately $3,638,990. This trade represents a 26.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,190 shares of company stock valued at $25,012,927 in the last three months. 0.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intuitive Surgical

Large investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA purchased a new stake in Intuitive Surgical in the 3rd quarter valued at about $558,807,000. International Assets Investment Management LLC increased its position in shares of Intuitive Surgical by 49,383.6% during the third quarter. International Assets Investment Management LLC now owns 1,090,619 shares of the medical equipment provider’s stock valued at $535,788,000 after acquiring an additional 1,088,415 shares during the last quarter. FMR LLC raised its stake in shares of Intuitive Surgical by 8.3% in the 3rd quarter. FMR LLC now owns 10,971,085 shares of the medical equipment provider’s stock valued at $5,389,765,000 after acquiring an additional 838,793 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in shares of Intuitive Surgical by 15,322.2% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 555,661 shares of the medical equipment provider’s stock worth $272,980,000 after acquiring an additional 552,058 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its position in shares of Intuitive Surgical by 40,221.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 266,121 shares of the medical equipment provider’s stock worth $1,184,000 after purchasing an additional 265,461 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Intuitive Surgical Company Profile

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.